Alexander Mining PLC Marketing Agreement in Mongolia (9224T)

TIDMAXM

RNS Number : 9224T

Alexander Mining PLC

11 January 2017

11 January 2017

Alexander Mining plc

("Alexander" or the "Company")

Marketing Agreement in Mongolia

Alexander Mining plc is pleased to report that it has signed a marketing agreement ("Agreement") with Dr. Jadambaa Temuujin for the potential commercial adoption of its leaching technologies in Mongolia. The Agreement has an initial term of two years, with a rolling mutually agreeable six monthly extension thereafter.

Martin Rosser, Chief Executive Officer, said: "Mongolia, with its favourable location adjacent to China, is a noted mining country and is highly prospective for the discovery of new mineral deposits. We greatly look forward to working with Dr. Jadambaa Temuujin as our agent to capitalise on the country's growing mining industry."

Under the Agreement, if Dr. Temuujin introduces an opportunity which leads to Alexander executing a commercial technology licencing agreement and it receiving licencing revenue, then it will pay Dr. Temuujin a commission fee from the licensing revenue for the first three years of licence commercial use.

Background on Dr. Jadambaa Temuujin

Dr. Jadambaa Temuujin is currently Chief Research Scientist at the Institute of Chemistry and Chemical Technology, part of the Mongolian Academy of Sciences. He received his MSc degree from Kiev Polytechnic Institute, Ukraine in 1991, PhD from Mongolian Technical University in 1995 and DSc from the Mongolian Academy of Sciences in 2006. In 2011, he was elected into the Mongolian Academy of Sciences and became an Academician.

Dr. Jadambaa Temuujin is the Foundation President of the Mongolian Association of Chemists and Chemical Engineers and Mongolian Member of the International Advisory Board of the International Mineral Processing Council (IMPC).

As well as being an academic researcher he has strong ties with many leading major, mid-tier and junior mining and minerals processing companies in Mongolia. He maintains ongoing intensive collaborations with various mining companies on mineral processing. Dr. Jadambaa Temuujin is also a technology consultant to several Mongolian Government Ministries and sits on several technology advisory committees.

Dr. Jadambaa Temuujin is an expert in the Research, Development and Commercialisation of novel processes and was the founding Chairman of a company to manufacture low-cost geopolymer concrete from a range of different industrial wastes. He has organised mineral processing short courses such as gold processing course for mining companies' employees, for academic researchers and has co-authored a book on gold processing.

Background on mining in Mongolia

In the past 20 years, the Mongolian economy has been increasingly driven by the exploitation of its vast mineral resources. Mining accounted for 20% of the GDP in 2013, double that in 2003. Numerous international and domestic companies are exploring in Mongolia and world class deposits of copper and coal have both been identified and exploited, e.g. Oyu Tolgoi, Erdenet and Ovoot Tolgoi. Mongolia is currently a significant exporter of copper, coal, molybdenum, silver and zinc.

The Mongolian government is actively exploring ways to increase the extent of processing within the country. Plans are underway to build a centralised copper smelting and converting facility near Ulaan Baatar to reduce concentrate exports. Further domestic concentrate processing opportunities remain.

This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

ENDS

For further information, please contact:

 
 Martin Rosser 
  Chief Executive 
  Mobile: [phone] 
  341 
 Matt Sutcliffe 
  Executive Chairman 
  Mobile: [phone] 
  758 
  Alexander Mining plc 
   Tel: [phone] 
   Email: [e-mail] 
   Website: www.alexandermining.com 
 
 Northland Capital Partners 
  Limited 
  Matthew Johnson / Gerry 
  Beaney 
  [phone] 
  (Corporate Finance) 
  John Howes 
  (Corporate Broking) 
  Turner Pope Investments 
  (TPI) Ltd 
  James Pope / Ben Turner 
  [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 11, 2017 07:15 ET (12:15 GMT)